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Released for publication Sunday morning, March 3, 1918. Not earlier.
STATEMENT FOR THE PRESS

X-772

March 2, 1918,

Gains of over 5 millions in gold and total reserves, of about 9 millions
in total earning assets and an increase of about 36,5 millions in Federal R e se rv e
note circulation are indicated by the Federal Reserve Board's weekly bank s t a t e rietit showing condition of Federal Reserve banks as at close of business M arch 1,
the re­
sult ^
W York reports a decrease in reserve of 10.2 millions,^
*S ^
Setfi
transfers of credits to other Federal Reserve banks througn^
e
c o r r s ^ ^un<^
liquidation of checks drawn by country banks on their ew
e_
ported
ts in Paymentfor certificates of indebtedness- Gains m r e , pederal
Reserve ^
° Cleveland and Chicago banks arc accompanied by increases
■
note circulation and the liquidation of earning assets*
^
l> *o v Y ,t
l»< v T V
w a
ined about
millions, while holdings of ac "
tances show a further gain of about 3 m illions. Of the total discounts 245**
t n lio n s, or nearly one-half, is composed of members collateral notes or cus
f.
tomers pap^r, secured by Liberty bonds and certificates of indebtedness. Oyer
38 per cent of all b ills held mature within 15 days and nearly 50 per cent wi v
xn 30 days. Investments in U. S. Securities show an increase of
c
earning assets increased about
millions and constitute at proven
per cent of net deposits compared with 70*5 per cent shown the week b^xore.
Payment for Federal Reserve bank stock by newly admitted members ac­
counts largely for the increase of $
ahown in paid-in capital.
'ember
bank reserve deposits decreased about 7 1 .7 millions, all the banks except Rich­
mond reporting net withdrawals during the week* Government deposits increased
94.6 millions, mainly at Reserve banks outside of New York.
Federal Reserve Agents report a total of 1,464*6 millions of Reserve
notes outstanding, an increase of 3 4 .9 millions for the week* Against the total
issued they hold 885*3 millions of gold and 782.8 millions of paper. The banks
show a total Reserve note circulation of 1,351*1 millions, all the banks except
Richmond and Dallas reporting substantial increases in their note circulation.

19i8

0

5

7

1

8*8

12-6

86,000

CONDITION OF MEMBER BANKS ON FEBRUARY 21ST*
Principal changes in the condition of 686 member banks in leading cities
are reflected in the weekly statement of p r i n c i p a l assets and liabilities of
these banks as at close of business on February 21> 1918%
For all reporting banks, Government securities show a gain of 157.6
millions, due primarily to the purchase of U. S* certificates of indebtedness
during the week. Of the total Government securities held, certificates constituteed about 57 per cent. For the banks in the central reserve cities this per­
centage was about 75 per cent and for the New York City banks - 78 per cent.
Loans secured by U, S . bonds and certificates show a decrease of 13.4 millions
and all other loand and investments - a decrease of 75*3 m illions. Correspond­
ing figures for the 58 member banks in New York City indicate increases in total
Government securities held of 115.9 millions and decreases of 2.3 millions for
loans secured by U. S. war loan obligations and of 89.1 millions for all other
loans and investments.
Net demand deposits of all reporting banks increased 9*3 millions;
time deposits, 23.1 millions, and Government deposits, 120.8 millions. The
New York banks show a decrease in net demand deposits of 31 .8 millions and in­
creases in time deposits of 0 .6 million and in Government deposits of 91.1 mil­
lions. Reserves with the Federal Reserve banks increased during the week by
31.4 millions# while aggregate excess reserves increased from 61.6 to 91.6 mil­
lions.
In New York City the banks increased their reserves by 26.7 millions
and their excess reserves by 30.8 millions, or from 29.4 to 60.2 millions.
The ratio of loans and investments to total, including Government de­
posits, for all reporting banks decreased from 106.4 to 105.5 per cent. For
banks in central reserve cities this ratio declined from 102.6 to 100,2 per cent,
and for the New York City banks from 100.7 to 99.6 per cent. Slight increases
are shown in the ratio of aggregate reserves and cash in vault to total^deposits
as follows:
For all reporting banks, from 13.6 to 13.7 per cent; f c r /c e ^ r S l 1 1
1
reserve c itie s, from 14.4 to 14.6 per cent; amd for the New York banks, from
14.3 to 14.7 per cent.




T

V

Released for publication Sunday morning inarch 3, 1918
Not earlier
X7?2a
SJATBJEHT OF COMBINED RESOURCES AND LIABILITIES OF THE TOELVE FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS MARCH 1 1918
R E S O U R C E S
March 1,1918
February 21,1918
March 2,1917
Gold coin and certificates in vault ...............
ifil fi1I; Ann
$ 447,508,000
357 pqq n m
$ 304,163,000
Gold Settlement Fund - F. R. Board.................. ..............
375.273.000
Gold with foreign agencies ..........................
*
n?\nn non
212 021 000
_ 52.500 000
Total gold held by banks................
] ! ................
875.281.000
Gold with Federal Reserve Agents.................
...............
516, 194,000
677.023.000
Gold redemption lund........... ............. .
...............
20' 5^ ' S n
317.531.000
—aO, 091 000
Total gold reserves............................... ^
!
569. °<?°
___ 00
1.777.329.000
1.772.395.000
Leg^JL tender notes, silver, etc...........................
836.123.000
60.444.000
60.129.000
Total reserves...............................................
9.971.000
1.837.773.000
1 .832.524.000
846.093.000
Bills discounted for Members and F. R. Banks.. ] .........
£02,525,000
509.534.000
18.840.000
Bills bought in open market........................... . " ! ! ! ! 1 '*
299.213.000
295.170.000
Total bills on hand......................................
U 4 , 0 5 8 .0 0CP
501.738.000
805;7Q4,000
132.898.000
U.S.Government long-term securities.................. !!!*! **
77,705,^00
52,950,000
28.650.000
U.S.Government short-term securities.........
157.482.000
169,707,000
19,468,000
All other earning assets.............................
3.680.000
.... 3.436.000
= 1 7 ,0 4 ^ 0 0 0
Total earning assets................. .
1,040,605,000
1 ,031,797,000
198.064.000
Due from other F.R.Banks - net .
.
!
....... ... “
n
11,463,000
4.023.000
c o l l e c t e d itr
2519.402.000
154.026.000
iotai deduction from gross deposits....................
381,067,000
310,865,, 000
158.049.000
5% Redemption fund against F.R.Bank notes ......... .......
537,000
537,000
All other resources................................ ..
......... *
’
400,000
_______ 796.000
- .3 , QQQ
7T
7.571.000
TOTAL RESOURCES.............................................
3,260,778,000
3,176,454,000
1,210,177,000
L I A B I L I T I E S
Capital paid in ............................................
73,401,000
73,305,000
Surplus.....................................
56.045.000
1,134,000
1,134,000
£ ! I ^ r V 6P0Si* S150,781,000
56.165.000
14.162.000
Due to Members - reserve account....................................
1,388,020,000
1,459,720,000
708.893.000
O+i
* XOn 1Jems.................................................................
218,031,000
199,278,000
116.330.000
Other deposits including foreign Gov‘t. credits.........
64 122 000
58.329.000
Total gross deposits...............................................
*
*
1.820.954.000
1.7 73 .49 2.0 00
839,385,00 6
F.R.Notes in actual circulation.
1.351.091.000
1.3 14 .58 1.0 00
314.258.000
F.R.Bank notes in circulation, net liability
7,999,000
7.999.000
All other liabilities.....................................
_
6.199.000
5.943.000
489,000
TOTAL LIABILITIES '
3.260.778.000
3.176.454.000
1,210,177,000
Ratio, of gold reserves to net deposit and F.R.note
liabilities combined........... ..................................
63.7^
63. Q>
4
84. O t
f
Ratio of total reserves to net deposit and F.R.
note liabilities combined.............
65.1



,. ,

.

..................................................

6 6 .0 $

85.0%

Released, for publication Sunday Morning March 3, 1918.
Hot earlier
*X-772b
WEEKLY STATEMENT OF RESOURCES A D LIABILITIES OF EACH OF THE FEDERAL RESERVE BAMS AT CLOSE OF BUSINESS MARCH 1, ISIS*
TC
(In thousands of dollars)
R E S O U R C E S
Boston
N. Y.
Phila. Clevel. Richm. Atlanta Chicago St.Louis Minn.Kans.Cy. Dallas San Fran.
Total
Gold coin and certificates in vault 10,575 33-6,059
10,700 26,349
6,326 6.02 6 28,712
4,313 15,696
192
2,695 27,966
461,615
G o l d settlement fund F. R. Board
20,663
50,673
47,011 £1,234 20,196 13,926
49,767 30,527
2,167 40,203
14,221 16,10$
357,299
Gold with foreign agencies
3,675
13,112
3,675
4,725
1,337
1,57 5
7,350
2,100
2,100
2 ,-625
1,23 2
2,282
52,5p0
Total gold held by banks
34,918 324,844
61,326 22,308 22,359 21,527
25,835 36,940 19,963 4 3 , 0 2 0 2 5 , 3 5 4 4 6 , 9 6 0 8 7 1 , 4 1 4
G o l d with Federal Reserve Agents
42,600 249,724
74,322 24,549 25,888 46,734 151,407 40,004 43,989 55,634
21,156 43,133
285,346
Gold redemption fund
2 ,000
10,000
2,000
309
351
944
993
1,039
1,492
406
941
94
20,569
Total gold reserves
85,59* 644,622
137,774 167,166 54,592 69,205 23s ,§35 77,923 65,444 99,060
47,451 90,187 1,777,329
L e g a l tender notes, silver,etc.
5,857
39,910
1,115
1,476
359
2,007
5,404
1,299
60124
1,934 .
348____________ 60 , 444
Total reserves
91,455 684,538 138,829 163,642 54,957 71,212 243,639 79,222 66,0459 9 , 1 4 4 49,435 90,535 1,237,773
B i l l s dis.for members & F.R.Banks
60,959 217,801
22,249 33,513 31,721
9,549
35,663 22,574
2,696 16,525 10,739 32,536
502,525
Bills bought in open market
21,685 165,545
17,475 14,175
4,293
6,51%
19,073
6,204
1,695 1,481
10,722 30,353________299.?.211.
Total bills on hand
22,644 323,346
39,724 47,628 36,014 16,061
3 4 ,7 3 6
28,778 10,3911 8 , 0 0 6 2 1 , 4 6 1 6 2 , 8 8 9 8 0 1 , 7 3 8
U „S. Gov’ t long-tenn securities
940
4,762
5,744
8,262
1,233 4,33 5
31,676
2,233
3,174
2,862
4,021
2,457 77
U .S . Gov*t short-teim securities
2,219
27,720
6,162 17,255
1,994
3,096
20,293
1,444
3,594
4,352
2,730
1,552
157,432
All other earning assets
________10
207_______ 739______274_____ §25• • •
1»12Q— — 28^------ 3/680
Total earning assets
85,803 475,294
51-,640 73,205 39,241 23,699 107,44-9 3 2,729 23 ,144 31,226
29,392 67,123 1,040,605
Due from other F.R. Banks - net
3,010
...
1,038
9,429
3,949
5,134
20,742
6,442
8,933
1,129
2,622
1,747
11,882
Uncollected items
18,975
75,731
32,526 21,915 27,959 21,042
66,566 19,264 12,29332,330 21,172 13,552______ ? 69,125
Total deducts.from gross deposits 21,935
75,731 39,424 31,344 3 1 , 9 0 2 26, 1 7 6 8 7 , 3 0 2 2 5 , 7 0 6 2 1 , 2 2 6 3 3 , 5 1 9 2 3 , 7 9 4 1-5,299
321,067
5$ Redemp. fund against F.R.Bk.notes . . .
...
...
...
...
...
•••
400
137
•** 53
All other resources
■ ■ _____ . . .
■
404
. . ._______ 141
82______«• ♦
»»•______ • • •
*• •
tu.---- ----- 7— 126
199,243 1236,163
230,357 273,191126,247 121,169 432,396 137,717 110,415 164,229 102,758 173,126 3,260,778
TOTAL RESOURCES
Capital^paid-in^
Sum lus

1

6,012
75

deposits

19,665

6,724

E S

5,900

649

Due to members reserve account
Collection items

15,636

82,666

594,022

Due to other F. R. Banks - net

...

52,353

0 tT o L i eg r o s r d e p o s i t r * BOVt*Credltl 05,026
F.R. Notes in actual circulation
F*E.Bk.^otes in circula.net liab.
Ail

—’

r lia b ilitie s

totIl liabilities




54,010

27,273

771!101
441,025

...

6,8 4 2
...

8,320
* •.

10,303 17,930
77,779 102,053
12 ,4 95

31,450

9,261

4,939

7 ,6 f

25,9 g

44,972
19,057

3 7 ,7 6 7
1 3,700
—

119,532 144,710

69,024

103,923 119,920

53,367

59,156
59,057

•••

3 ,723______ --•________24l

199 , 2% 1236:163

2 ,9 1 6
40

....................

•

251

3,7 4 0
Il6

3 ,5 0 4

230,357 273.191 126.247 121,169

* Difference between net amounts due fran and net amounts

3 ,4 1 3

13.g ?

12.936

14,50

***

* •'

230*096 73,267
192,477
346

59,966

* **

2,313

4,243

73,4 01
1 ,1 3 4

12.905

w , 0g

150,7|1

32

172,366 50,286 ^2,53
^
23,683
8 ,9 9 4
3 ,9 3 8
9 ,6 8 6

* **
_______. . .

2,6 6 6
216
—

c’ cek
5 ,^ 2 4 13,442

***

56,362
51,251

*’ *

9 1 ,5 1 2

52,023

94,292

60,912

41 ,2 15

74,045

** *

#’ Ir

’ piVoTn
218,031
f> k l2 2
1 ,2 2 0 ,9 5 4
1 , 351,091

c

noo

3 20_______ 21______ ^52_______ 122--- ------ _2il22.

43S.396 1 3 7 ,7 1 7 110,415 1 W .289

102 , 7 5 s 173,isb

due to other Federal Reserve Banks.

3 .2 M .7 7 E

Released for publication Sunday morning March 3, 1918
Hot earlier
STATEMENT OF FEDERAL RESERVE AGENTS1 ACCOUNTS AT CLOSE OF BUSINESS MARCH
(in thousands of dollars)
FEDERAL RESERVE NOTES
BOSTON NEW YORK PHILA.
CLEVE. RICHM, ATLANTA CHICAGO ST.LOUIS
Received from Comptroller
117,920
744,120 142,840 147,040
81,740 89,620
253,800
76,100
Returned to Comptroller
.22,820
139,956 23.852
11.071
16.939 12.150
9.498
9.774
Chargeable to F.R.Agent
95^100
604,164 118,988 135,969
64,801 77,470
244,302
66,326
In hands of F,R.Agent
— i,? gO____ 95.440 11.280
13-P.RO
5.455 16.625
37.220
2 .210
Issued to F.R.Banks, less
amount returned to F.R.
Agent for redemption
90,180 -508,724 107,708 122,689
59,346 60,845 207,082
64,116
COLLATEPAL HELD AS SECURITY
FOR OUTSTANDING NOTES:
Gold coin and certificates
on hand
32,110
195,961
18,130
—
3,104
Gold redemption fund
5,070
13,823
5,729
6,419
888 3,160
412
2,266
Gold settlement fund F.R.Board
11.500
40,000 68,659
60,000
25,000 40,470 150,995
37,738
41.500
Eligible paper,minumum required
258.940 3 3 r320
38.140
33.458 14.111
55.675
24.112
Total
90,180
508,724 107,708 122,689
59,346 60,845 207,082
64.116
AMOUNT OF ELIGIBLE PAPER DE­
LIVERED TO F.R.AGENT
82,644
383,345 34,565
47,688
35,014 14,286
56,293
25,608

X772c
I , 1918
MINN.
67,980
II.3 0 5
56,675
4.440

KANS.CY DALLAS ■SAN.FRAI'3.
86,740
13,899
72,841
7,360

68,500
13.563
54,937
12,835

91,800
7,663
84,137
—

1,968,200
292.490
1£75,710
211.065

52,235

65,481

42,102

S4,I37

1^64.645

14,580
2,302
4,274
20,946
42ll02

4,517
38,616
41.004
84jl37

276,987
49,747
558,612
579.299
1,464]645

21,461

56,608

782,777

13,102
2,387
2,774
28,500
52,860
8.246
9.847
5 2,23T~ 65,481
8,868

16,397

TOTAL

M E M O R A N D A
FEDERAL RESERVE
F.R,Notes outstanding
F.R.Notes held by banks
F.R.Notes in actual cir­
culation

NOTES

OUTSTANDING AND

90,180
2.907

508,724 107,708
67.699
3.725

122,689
2.769

59,346
5.979

60,845
1.788

207,082
8.605

87,273

441,025 103,983

119,920

53,367

59,057

198,477

IN
64,116
52,235
. 4,150_______984
59,966

51,251

ACTUAL

65,481
42,102
4.569_______ 287

84,137 1,464,645
10.092
113.554

60,912

74,045 1,351,091

41,815

DISTRIBUTION OF BILLS AND WARRANTS BY MATURITIES
Within 15 days
Bills discounted and bought
Municipal warrants
U.S.Govt, short term securities




16 to 30 days

307,246

93,665

10
106,603

2,000

31 to 60 days
183,752
7
9,546

61 to 90 days
207,544
3
2,925

CIRCULATION

Over 90 days
9,531
469
36,408

Total
801,738
489
157,482

Released for publication Sunday nomine March 3, 1913.
Not earlier.
X-JJ2&
STATEMENT SHOWING PRINCIPAL RESOURCE AND LIABILITY ITEMS OF MEMBER BANKS LOCATED IN CENTRAL RESERVE, RESERVE AND OTHER
SELECTED CITIES AS AT CLOSE OF BUSINESS K EB H M T 21, ■
1918
1. Data for all reporting banks in each district.
(In thousands of dollars) _____________________ ___________________ ___________________.—
Member banks
Boston New York
Phila,
Cleve*.
Rich..
Atlanta Chicago St.Louis
Minn. Kansas Cy. Dallas San Fran.
Total
No. reporting banks...
38
93
*7
79
68
39
95
32
3*
69
*1
*6
686
U.S.bonds to sec. circ. 14,621
50,607
12,933
42 ,553
23,072 15,200
19,331 17,370
6,010
...
17,750 35,399
(°) 254,846
Other U.S.bonds inc.
'
.
,
Liberty bonds............... 10,701
120,656 14,131 * 2,551 18,899 l*,38 4
*3,012 10,992
5,777
10,217
16,679
t > 367.999
t)
U .S.certif. of indebt.. 19,500
691,591
26,826
56,786
7,356
9,909
* 3,603 15,688
10,339
•••
6,653 16,330
( 0) 904,631
Total U.S.sec..4 * ,3 2 2
922, 85* 53,890 iW ,« 9 o
* 9,327 39,*93
105,5*6 44,050
22,126 40.,255 3*,620 68,458
1,507,731
Loans sec.by us Bds.etc. 3 1 ,903
193,797
22,527 20,393 12,7*2 2,657
32,950 10,326
2,896 2,839
3 ,*25
5,260
3^1.715
All other loans & invesjio , 431 4042,932 603,004 906,965 327,796 288,570 1333,939 372,730
246,186 *52,328 190,593 * 76,026
9 , 951,500
Reserve with F.R.Bank.. 61,*17
615,351
58,607 86,806 27,240 24,921
137,H 7 36,275
19,*33 *2,218
17,185 *1 »1f7
+
Cash in v ault................ 23,*66
123,599
21,974 36 , 3 s* 15,710 16,652
59,051 12,735
3,831 15,913
12,309
21,739
n j6 8 ,*l3
Net demand deposits
606, 49* *320,311 569,913 715,*9* 257,698 207,551 1036, 781272,199 179 ,*36 393,7*7 172,782 358,1*0
9’ ? ^ . 5 * 6
Time deposits................. 31,546
30.7,705
1 5,376 217,119
4-7,55* 7 *,631
3*3,*40 83,081
51, 6*0 55,676 24,563 102,051
1,404,882
Government denosits____ 3 5 .7 0 *
512,563
40,099
36,143
...
8,711
51,066 19,538
14,140 14,300
10,311
7 * 2 ,b25

2. Data for banks in each Central Reserve city, banks in all other Reserve cities and other reporting, oanks.
New York
Feb. 21— Feb. 15
No. reporting banks...
58
58
U.S.bonds to sec. circ. 35,693
Other U.S. bonds inc.
Liberty bonds............. 162,168
...
U .S.certif. of indebt. 681,068
...
Total U.S.sec.
. 878,929 783,000
Loans sec.by US Bds.etcl71,693
17*,036
All other loans and
inve stment s . . . ......... 3621, 6l6 3710,680
Reserve with F.R.Bank. 580,000
553,283
Cash in vault............... 108,359 109,088
Net dem’ d depos. : ..-3938,037 3969,885
Time deposits............... 259,869
259,258
Govemp'^nt deposits... * 95,053
403,996

Chicago St.Louis Total Cent. Res. Cities Other Beserve Cities
Feb. 21-— Feb- 15
Feb.21
Feb. 21
Feb. 21-— Feb. 15
421
112
417
112
40
14
%• «
. . . (b) 158,441
*7,376
1,313 10,370

15,102
26,125

6,444
12,664
29,478

133,71*
719,357

7,793

198,640

273, 11*
96,322 27,652
7 , 26l
37,816
717,560 194,224
137,*22 63,510
37 ,*22 16,504

4723,283
703,974
153, *36
4849,821
460,801
5*3,979

42,620
19,15*
828,553

(a) Amended figures
I




950,9*7

. . . (b) 152,487
. . . (b) 163,284
852,423
519,467
204,710
122,713
4813,672
677,211
153,55*
4844,785
460,202
447,844

-(b) Exclusive of Kansas City.

4434,906

416,670
182,424
3643,766
785,893
175,909

***
••«

472,482
130,209
443^,636
414,067
181,149
3652,392
768,564
157,7*9

Total
Country Banks
Feb*21--Feb.15
Feb. 21-—Feb. 15
636
150
679
153
(b) 254,846
• ••
49,029
31,793
16,490
97,317

•m
*
••*

85,280

20,362

(a)20,159

7 * 3 ,3 H
50,093
32,553
601,959
1 58 ,1S8
17,737

726,510
48,108

32,800
589,030
153,033

16,280

(b)367,999
(b)904 ,631

1567,731 1410,185
3 * 1 , 715 ^)355,078
9951, 50010026,818
1170,737 1139,336
36s , *13 367,503
9095,546 9086,207
1404,882 1381,799
742,625 621,873


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102